Interactive Brokers released robust financial results for the second quarter of 2024, highlighting strong growth in both earnings and revenue. For the period, diluted earnings per share (EPS) totaled $1.65, up 37% from $1.20 in the second quarter of 2023.

On an adjusted basis, EPS was $1.76, up 33% year over year from $1.32. The company's net revenue reached $1,230 million, up 23% from the prior year, and adjusted net revenue reached $1,290 million, up 21% from $1,064 million in the prior year.

Key financial metrics:

- Pre-tax income: Pre-tax income was $880 million and adjusted income was $940 million, reflecting significant year-over-year growth of $652 million and $716 million, respectively.

- Commission Income: Commission income increased 26% to $406 million driven by higher trading volumes in options (up 35%), equities (up 26%) and futures (up 10%).

- Net interest income: net interest income increased 14% to $792 million, supported by higher benchmark interest rates, customer margin loans and customer loan balances.

- Other fees and services: Other fees and services increased $21 million to $68 million, primarily due to higher exposure fees and payments for order flow on exchange-mandated programs.

Interactive Brokers' strong performance was driven by higher client trading volumes and higher net interest income. Total daily average trading revenue increased 28% to $2.39 million. However, expenses related to execution, clearing and distribution fees increased 24% to $115 million, driven by higher trading volumes and an increase in the SEC commission rate during the quarter.

The company reported pre-tax profitability of 72% and adjusted profitability of 73% for the quarter, compared to 65% and 67% in the same quarter last year. The company's total equity reached $15.2 billion.

The board of directors declared a quarterly cash dividend of $0.25 per share payable on September 13, 2024 to shareholders of record as of August 30, 2024.The company also reported 28% growth in customer accounts, reaching 2.92 million, and 36% growth in customer capital, reaching $497.2 billion.

Despite the overall positive results, Interactive Brokers recognized a loss of approximately $48 million due to a technical issue at the New York Stock Exchange on June 3, 2024.

Interactive Brokers' impressive results for the second quarter of 2024 underscore the company's strong position in the global financial market.